How Online Loan Aggregators contributing to Retail Loan Penetration in UAE? – Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The banking industry in UAE is a highly fragmented space with a presence of ~60 national & international banks in the country. Post-2016 oil crisis, suffering from high NPAs banks in UAE tended to be more cautious when lending particularly to corporate & individuals thereby increasing rejection rates. Even now, banks generally avoid lending to ex-pats (sometimes putting additional eligibility conditions) & prefer to provide loans to Nationals working in government jobs. Therefore, ex-pats (8.5 Mn population) are often seen resorting to loan aggregator channels. Retail loans including personal loans, credit cards, mortgages/home loans, car loans are the second most demanded loan category in UAE. With minimal documentation & eligibility criteria, personal loans in the UAE are majorly acquired for the purposes of house renovations, travel, paying off other loans, etc. In past years, personal loans outstanding in UAE have been gaining momentum owing to increased working population demand from Dubai & Northern Emirates regions. However, given similar documentation & eligibility criteria, one must expect a similar trend to be followed in credit cards demand as well. On the contrary, credit card transactions have been falling owing to limited Merchant’s Banking Infrastructure availability and making credit card usage limited & challenging. From the past 2-3 years, property prices in the UAE have been following a downward trend reaching an average price of AED 2.58 Mn by 2019 and shifting from investor-led market to the owner-occupied market. Attaining a home loan in UAE is a costly & time-consuming process, therefore consumers often take online aggregator services to either compare loan prices or get assisted in the overall loan acquisition process. In recent years, instead of purchasing new car consumers have been shifting to alternative options such as car leasing, car subscriptions, or purchasing used cars. This, in turn, has decreased the country’s year on year car sales subsequently negatively impacting car loan demand in the country. However, car dealerships often have tie-ups with multiple banks thereby helping purchasers in loan facilitation & charges negotiations which is one of the major reasons for consumers to not preferring online aggregator services. SME loans can be a high potential area for online aggregators. According to Dubai SME Report of 2018, 400 thousand MSMEs contribute ~40% to the GDP and employ 42% of the city’s workforce. However, owing to credibility issues & failing to meet collateral requirements, SMEs in The UAE suffer from a 60-65% rejection rate, therefore, they are often seen to rely mainly on self-funding options or on aggregators for loan facilitation. COVID 19 pandemic has made industries realize the importance of online operations and has brought in major shift in consumer behavior with consumers preferring contactless online services. Such a situation is expected to act as an opportunity for online loan aggregators thereby expecting tremendous growth through increased traffic & leads. Companies Covered: – YallaCompare Souqalmal BankOnUs Policy Bazaar UAE SoulWallet UAE Cash Loans Time Period Captured in the Report: – Historical Period: 2015–2019 Forecast Period: 2020-2024 Key Topics Covered in the Report: – Socio-Demographic, Economic & Banking Scenario in UAE Snapshot of Lending scenario in The UAE with segmentation by Business & industrial Loans, Retail Loans, Loans to Government, Public Loans & Loans to Financial Institutions Retail Lending Scenario with Segmentation by Personal Loans, Credit Cards, Mortgage/Home Loan, Car Loan and Others Gaps in Traditional Loan Industry fulfilled by Online Loan Aggregators Online Loan Aggregator Industry in The UAE with Business Model followed End-to-End Customer Journey followed Technological & Operational Structure followed Regulatory Landscape in UAE Loan Industry Competitive Landscape including Overview, Ecosystem & Cross Comparison among major players on basis of Operational, Loan Providers, Product Portfolio, Strengths & Weakness Analysis, website Features Company Profiles-YallaComapre, Souqalmal, BankOnUs, PolicyBazaar UAE, SoulWallet, UAE Cash Loans International Case Studies-PaisaBazaar (India), Money Super Market (UK) Future Outlook of Retail Lending & Online Loan Aggregators Impact of COVID 19 For More Information on the assess product portfolio, Click on the Below Link: – UAE Online Loan Aggregators Industry Future Related Reports by Ken Research: – India Online Loans Market Outlook to 2019 – Industry Transformation by the Advent of Web Aggregators Competition Benchmarking: Indonesia Peer-to-Peer Lending Market Outlook to 2024 Contact Us: – Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Tags: BankOnUs Credit Cards Online Market Revenue, Commission Rate Online Aggregators UAE, COVID 19 Impact on UAE Loan Industry, Credit Outstanding in the UAE in AED, Fee rate Loan disbursement UAE, Future of UAE Online Loan Aggregator Market, Future Outlook of Retail Lending & Online Loan Aggregators, Impact of COVID 19 on UAE Loan Industry, Major Loan Providers in UAE, Online Broker vs Online Aggregators UAE, Online Brokers in UAE, Online Loan Aggregator Industry UAE, Online Loan Aggregator Market UAE, Online Loan Industry in UAE, Online Loans Market in UAE, PolicyBazaar UAE Credit Cards Revenue, PolicyBazaar UAE Online Loan Market Share, PolicyBazaar UAE Personal Loan Revenue, Revenue Loan Aggregators UAE, Souqalmal UAE Personal Loan Revenue, UAE Cash Loans Online Loan Market, UAE Credit Cards Online Market, UAE Fintech Market, UAE Online Car Loan Market, UAE Online Distribution Loan UAE, UAE Online Loan Aggregator Industry, UAE Online Loan Aggregator Industry Research Report, UAE Online Loan Aggregator Market, UAE Online Loan Aggregator Market Analysis, UAE Online Loan Aggregator Market Forecast, UAE Online Loan Aggregator Market Growth Rate, UAE Online Loan Aggregator Market Outlook, UAE Online Loan Aggregator Market Research Report, UAE Online Loan Aggregator Market Revenue, UAE Online Loan Aggregator Market Share, UAE Online Loan Aggregator Market Size, UAE Online Loan Market End Users, UAE Online Loan Market Major Players, UAE Online Loans Industry, UAE Online Loans Market, UAE Online Loans Market Major Players, UAE Online Mortgage Loan Market, UAE Online Personal Loans Market, UAE Online SME Loan Market, UAE Retail Loan Industry Analysis, UAE Retail Loans Market Share, YallaCompare Credit Cards Online Revenue, إيرادات سوق مجمّعات القروض الإماراتية عبر الإنترنت, الإمارات العربية المتحدة, الإمارات العربية المتحدة حجم سوق مجمع القروض عبر الإنترنت, الإمارات العربية المتحدة صناعة مجمع القروض عبر الإنترنت, تحليل سوق مجمّعات القروض الإماراتية عبر الإنترنت, تقرير أبحاث سوق مجمّعي القروض الإماراتي عبر الإنترنت, تقرير أبحاث صناعة مجمعي القروض الإماراتي عبر الإنترنت, حصة سوق مجمّعات القروض الإماراتية عبر الإنترنت, سوق الإمارات العربية المتحدة للقرض عبر الإنترنت, سوق القروض الإلكترونية الإماراتية